Roc Oil will operate a production-sharing contract (PSC) for shallow-water block M07 in the Moattama basin. Terms call for an 18-month environmental impact assessment and study period, followed by an option to proceed to a three-year exploration phase.
The 13,000-sq km (5,019-sq mi) concession is water depths of 15-50 m (49-164 ft) in a gas- and condensate-prone area at the mouth of the Irrawaddy delta. It is 160 km (99.4 mi) east of the producing 6.5-tcf Yadana gas field and 110 km (68 mi) northeast of the 1.5-tcf Zawtika gas field, which PTTEP is developing.
Production in the Moattama basin typically comes from stacked Miocene clastic reservoirs.
Ophir Energy has provisionally secured a 95% operated interest in deepwater block AD-03, subject to finalizing a PSC with the Ministry of Energy. The 10,000-sq km (3,861-sq mi) block is in the Rakhine basin, on trend with the multi-tcf Shwe gas field.
During the initial exploration period Ophir will re-process existing 2D seismic and acquire 3D seismic data.